'Unjustified': PM-Trump talks push after tariff hike
Pressure is again mounting for Prime Minister Anthony Albanese to personally meet with Donald Trump amid fresh alarm over the US president's "unjustified" tariff hike on steel imports.
Mr Trump on Saturday announced plans to increase tariffs on foreign imports of steel from 25 to 50 per cent to "further secure the steel industry in the United States".
The latest decision could impact Australia's industry, which exported more than $414 million worth of iron and steel to the US in 2024.
Trade Minister Don Farrell says the tariffs are unjustified and not the act of a friend.
"They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade," Mr Farrell said on Saturday.
"We will continue to engage and advocate strongly for the removal of the tariffs."
Opposition trade spokesman Kevin Hogan said the latest move was concerning for Australian jobs and the coalition expected the US to honour its obligations under both nations' free trade agreement.
"The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said in a statement.
"This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries."
The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission.
The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March.
Australia will continue to push for Mr Trump to drop his tariffs after a US federal court blocked his Liberation Day taxes on imported goods from going into effect.
Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement.
The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs.
The administration launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency".
Labor has sought to temper expectations on whether it can land a deal with the US to remove the tariffs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
an hour ago
- The Advertiser
Australia will determine its own defence policy: PM
Australia will determine its own defence policy in the face of mounting US pressure on countries in the Indo-Pacific to ramp up spending against what the superpower says is a real and imminent threat from China. Addressing Asia's top security summit in Singapore on Saturday, US Defense Secretary Pete Hegseth called on his nation's allies in the region to share the burden of deterrence by upgrading their own defences. "There's no reason to sugar coat it," he told the Shangri-La Dialogue. "The threat China poses is real, and it could be imminent." Responding to the remarks, Mr Albanese pointed to extra defence spending his government has already committed to. "We'll determine our defence policy, and we've invested just across (the next four years) an additional $10 billion in defence," he told reporters in Hobart on Sunday. "What we'll do is continue to provide for investing in our capability but also investing in our relationships in the region." Defence spending will rise to about 2.3 per cent of GDP within the decade, from the two per cent it currently hovers at. In Singapore at the summit, Defence Minister Richard Marles said the lift represented the "single biggest peacetime increase in defence expenditure in Australia's history". "So we are beginning this journey," he said. "We've got runs on the board." Mr Hegseth said Beijing's military action around Taiwan was "rehearsing for the real deal" in relation to an invasion of the island. Mr Albanese said Australia's position on Taiwan was "very clear" and included a bipartisan stance to support the status quo. China views Taiwan as its own territory, and slammed the US as the biggest "troublemaker for regional peace and stability". Australia will determine its own defence policy in the face of mounting US pressure on countries in the Indo-Pacific to ramp up spending against what the superpower says is a real and imminent threat from China. Addressing Asia's top security summit in Singapore on Saturday, US Defense Secretary Pete Hegseth called on his nation's allies in the region to share the burden of deterrence by upgrading their own defences. "There's no reason to sugar coat it," he told the Shangri-La Dialogue. "The threat China poses is real, and it could be imminent." Responding to the remarks, Mr Albanese pointed to extra defence spending his government has already committed to. "We'll determine our defence policy, and we've invested just across (the next four years) an additional $10 billion in defence," he told reporters in Hobart on Sunday. "What we'll do is continue to provide for investing in our capability but also investing in our relationships in the region." Defence spending will rise to about 2.3 per cent of GDP within the decade, from the two per cent it currently hovers at. In Singapore at the summit, Defence Minister Richard Marles said the lift represented the "single biggest peacetime increase in defence expenditure in Australia's history". "So we are beginning this journey," he said. "We've got runs on the board." Mr Hegseth said Beijing's military action around Taiwan was "rehearsing for the real deal" in relation to an invasion of the island. Mr Albanese said Australia's position on Taiwan was "very clear" and included a bipartisan stance to support the status quo. China views Taiwan as its own territory, and slammed the US as the biggest "troublemaker for regional peace and stability". Australia will determine its own defence policy in the face of mounting US pressure on countries in the Indo-Pacific to ramp up spending against what the superpower says is a real and imminent threat from China. Addressing Asia's top security summit in Singapore on Saturday, US Defense Secretary Pete Hegseth called on his nation's allies in the region to share the burden of deterrence by upgrading their own defences. "There's no reason to sugar coat it," he told the Shangri-La Dialogue. "The threat China poses is real, and it could be imminent." Responding to the remarks, Mr Albanese pointed to extra defence spending his government has already committed to. "We'll determine our defence policy, and we've invested just across (the next four years) an additional $10 billion in defence," he told reporters in Hobart on Sunday. "What we'll do is continue to provide for investing in our capability but also investing in our relationships in the region." Defence spending will rise to about 2.3 per cent of GDP within the decade, from the two per cent it currently hovers at. In Singapore at the summit, Defence Minister Richard Marles said the lift represented the "single biggest peacetime increase in defence expenditure in Australia's history". "So we are beginning this journey," he said. "We've got runs on the board." Mr Hegseth said Beijing's military action around Taiwan was "rehearsing for the real deal" in relation to an invasion of the island. Mr Albanese said Australia's position on Taiwan was "very clear" and included a bipartisan stance to support the status quo. China views Taiwan as its own territory, and slammed the US as the biggest "troublemaker for regional peace and stability". Australia will determine its own defence policy in the face of mounting US pressure on countries in the Indo-Pacific to ramp up spending against what the superpower says is a real and imminent threat from China. Addressing Asia's top security summit in Singapore on Saturday, US Defense Secretary Pete Hegseth called on his nation's allies in the region to share the burden of deterrence by upgrading their own defences. "There's no reason to sugar coat it," he told the Shangri-La Dialogue. "The threat China poses is real, and it could be imminent." Responding to the remarks, Mr Albanese pointed to extra defence spending his government has already committed to. "We'll determine our defence policy, and we've invested just across (the next four years) an additional $10 billion in defence," he told reporters in Hobart on Sunday. "What we'll do is continue to provide for investing in our capability but also investing in our relationships in the region." Defence spending will rise to about 2.3 per cent of GDP within the decade, from the two per cent it currently hovers at. In Singapore at the summit, Defence Minister Richard Marles said the lift represented the "single biggest peacetime increase in defence expenditure in Australia's history". "So we are beginning this journey," he said. "We've got runs on the board." Mr Hegseth said Beijing's military action around Taiwan was "rehearsing for the real deal" in relation to an invasion of the island. Mr Albanese said Australia's position on Taiwan was "very clear" and included a bipartisan stance to support the status quo. China views Taiwan as its own territory, and slammed the US as the biggest "troublemaker for regional peace and stability".
The Advertiser
an hour ago
- The Advertiser
Carbon tariff on the table for overseas businesses
Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields. Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields. Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields. Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields.
Sky News AU
an hour ago
- Sky News AU
PM dodges $3m super tax question
Anthony Albanese has sidestepped a question on whether he and politicians with more than $3m in their super balances will be required to immediately pay Labor's proposed tax. This follows comments from Employment and Industrial Relations Minister Amanda Rishworth stating that there will be provisions that mean people on defined superannuation funds won't have to immediately pay tax even if their balance is above $3m. Labor's proposed plan is tipped to generate $2.7bn annually and hit superannuation balances over $3m with a 30 per cent tax, a doubling of the current rate. As it stands, about 0.5 per cent or 800,000 Australians will be affected by the policy. However unlike Australians on ordinary and self-managed super funds, long-serving politicians on defined benefit pensions like Penny Wong, Sussan Ley, Tanya Plibersek and the Prime Minister who entered parliament in 2004 will be able to defer paying the tax until after they retire. Speaking to Sky, Ms Rishworth was repeatedly asked whether Australians on defined benefit would be required to pay their tax while still working, or whether they'd only be liable once they retire. While she didn't directly answer the questions, she said that 'the same provisions that have been used to treat, defined benefits schemes in the past under the Coalition and under previous governments have been applied,' and that the accounts are 'treated differently'. 'What I'm saying is we have applied the exact same rules as in the past that had been how you treat defined benefit schemes to this provision as well,' she said. 'It's entirely consistent and long standing and applies across the board to defined benefit schemes which the Commonwealth has constitutional power over.' When asked later, Mr Albanese also deflected a question on whether he would be subjected to the tax immediately, telling a journalist: 'Look it applies to us as it applies across the board, but the legislation, of course, has yet to be carried by the parliament'. The Coalition's finance spokesman James Paterson, who has objected to the tax as it hits unrealised gains, said the government needs to be more 'open and transparent' on the plan. He specifically called on Mr Albanese to explain the 'different treatment between different categories of retiree,' questioning whether he influenced the policy. 'Every other taxpayer, if they exceed the threshold, has to pay it in their working life but people like Anthony, on a defined benefit pension, only have to pay it after they retire,' he said. 'Now I think there is a very important question that arises out of this. Jim Chalmers has written rules which are favourable to his boss. Did Jim Chalmers ever discuss this with Anthony Albanese? Was it ever discussed in Cabinet or the Expenditure Review Committee of Cabinet? 'Did the Prime Minister exempt himself from that discussion? Did he remove himself from the room because of the significant personal conflict of interest that he has?' Originally published as Anthony Albanese deflects question on whether he'll be immediately hit with proposed $3m super tax
